Copper Market - Global Industry Analysis 2015 – 2023
Transparency Market Research has published a new market report titled
“Copper Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023.”
According to the report, the global copper market was valued at US$
138.05 Bn in 2014 and is anticipated to reach US$ 171.96 Bn by 2023,
expanding at a CAGR of 4.9% between 2015 and 2023.
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Copper is a soft metal with excellent ductile and malleable
properties. It has high electrical and thermal conductivity. Copper
is used extensively in various industrial application due to its
conductivity and antibacterial properties. Brass and bronze are two
of the most important alloys of copper. Copper’s malleability and
ease of usage in machines during the fabrication process facilitates
high production rate of accurate copper shapes at relatively lower
cost than its substitutes.
Increase in infrastructure activities in developing countries is
expected to boost the demand for copper in the next few years.
Additionally, advancement in global manufacturing output as in
transportation equipment, industrial machinery, domestic appliances,
and other durable goods is estimated to augment the demand for copper
during the forecast period. However, competition from other materials
such as plastic and aluminum is likely to hamper market growth.
Nonetheless, ongoing research and development in green building is
projected to open growth opportunities for the copper market in the
near future.
Copper metal is traded in various forms such as wire rods; plates,
sheets, & strips; and rods, bars, & sections. In terms of
volume, the wire rod segment accounted for more than 55% share of the
market in 2014. Copper rods are used in the manufacture of ultra-high
voltage, large capacity underground and submarine cables; magnet
wires for electronic parts; and wire harnesses for automobiles. The
others segment includes powder and tube. It held the second-largest
share of the global copper market in 2014.
In terms of volume, construction was the largest application segment
of the copper market, accounting for more than 40% share in 2014. It
is also projected to be the fastest-growing segment of the market
during the forecast period. Copper and brass are the materials of
choice for plumbing, taps, valves, and fittings owing to their
aesthetic appeal. Copper is used widely in infrastructural activities
in the form of copper tubing, taps, valves, tanks, connections, and
fittings. This, in turn, is expected to increase the demand for
copper in the next few years. It is a good conductor of electricity.
It is also malleable and corrosion resistant. This makes it the most
sought after material for electric cables, both industrial as well as
domestic. Electrical & electronics was the second-largest
application segment of the copper market in 2014.
Browse
the full Copper (Wire Rod; Plates, Sheets, & Strips; Rods, Bars,
& Sections; and Others) Market for Construction, Electrical &
Electronic Products, Transportation, Industrial, and Other
Applications - Global Industry Analysis, Size, Share, Growth, Trends
and Forecast 2015 - 2023 report at
http://www.transparencymarketresearch.com/copper-market.html
In terms of volume, Asia Pacific dominated the global copper market,
accounting for more than 60% share in 2014. Asia Pacific is
anticipated to be the fastest-growing regional market during the
forecast period owing to increasing demand for automobiles and rapid
industrialization and urbanization in the region.
Key players operating in the copper market include Codelco, Aurubis
AG, Freeport McMoRan Inc. Copper, Glencore, Grupo Mexico, and BHP
Billiton Ltd.
The
report segments the copper market as follows:
Global
Copper Market - Form Analysis
Wire rod
Plates, sheets, & strips
Rods, bars, & sections
Others (Including powder, tube, etc.)
Global
Copper Market - Application Analysis
Construction
Electrical & electronic products
Transportation
Industrial
Others (Including consumer products etc.)
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